(Eagle News)–The government is implementing an integrated pre-border technical verification and cross-border electronic invoicing system of all imported commodities. In ordering the move through Administrative Order No. 23, President Bongbong Marcos said “a single electronic invoicing system controlled by the Philippine Government is necessary to effectively monitor international trade transactions of all imported goods.” For implementation of the system, a Committee for Pre-border Technical Verification and Cross- border Electronic Invoicing shall be created, according to […]
Tag: Philippine imports
Philippine imports shrink the most since 2009 as global headwinds hit
EAGLE News — Philippine imports dropped nearly 26 percent in December, the sharpest fall since 2009. Semiconductor shipments contracted almost 40 percent to signal tougher days ahead for one of Asia’s fastest-growing economies. The Philippines imports semiconductors largely for assembly in electronics products for export, and the decline underlines slower demand overseas as the global economy weakens. Economists say the import data also highlights softening domestic demand, and growing uncertainty on the investment outlook ahead […]
PH imports recover, reach highest growth for 2015
MANILA, Aug. 26 — Philippine imports recorded its highest growth for the year at 22.6 percent in June 2015, recovering from three consecutive months of contractions since March, according to the National Economic and Development Authority (NEDA) on Tuesday. The Philippine Statistics Authority (PSA) reported today that the spending for imported goods rose to US$5.9 billion in June 2015 from US$4.8 billion in the same month last year. The recovery was due to significant increases in imports […]
